Silent Service Method | Page 386 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Silent room 2 replies

Silent Success of Patience 10 replies

My silent journal 4 replies

bo7a method... method for GBP/JPY 205 replies

Seeing Through the Silent Crash 4 replies

Attachments: Silent Service Method
Exit Attachments

Silent Service Method

  • #7,701
  • Mar 23, 2010 4:19pm Mar 23, 2010 4:19pm
Quoting sebafx
how about this FTSE 100 one? worth watching next week maybe?
(post 7679)

Engulfing bullish bar yesterday, and the high of the pinbar was broken today, rendering the setup invalid. Looks like it could break the s/r area soon... we'll see.

Quick question about FIBS and trend: If Investec breaks the s/r area, which converges with 61.8 fib, what does this mean trend-wise? I mean, price has no more fib levels to retrace to; would this mean we could then consider the long-term trend is up? Or would we have to wait to break the 2007 highs before thinking uptrend?
Attached Image (click to enlarge)
Click to Enlarge Name: Investec 23mar setup invalid.png Size: 41 KB
  • #7,702
  • Mar 23, 2010 5:11pm Mar 23, 2010 5:11pm
Quoting clockwork71
I am still wanting to short the EUR/USD, but am waiting for the break through. Europe is in a lot of trouble from what I can tell.

**** Warning: The following is an opinion.... ****

Europe is old, and has a lot of different little countries. They have several different languages, and several different cultures. The Greeks certainly do not live like the Germans. The Germans are by far the most productive member of the group, while out Greek and Italians friends.....well let's just say they love life. This isn't a value judgment, just a...
As a European I have to disagree. Sweden is of course the most productive nation in Europe!

Other than that I agree with your thoughts.

Thank God Sweden voted no on joining the EMU some years back.

In my humble opinion the EU is now at a crossroads. It has been expanded with new member states at a stunningly fast pace and that has turned a relatively (notice I said relatively) homogeneous group of countries into a mixture representing the whole scale: from very rich nations with high tech driven economies like Sweden, Finland, Denmark, Germany, the UK, the Benelux countries, France, to the other end of the scale with struggling countries like Romania for instance.

It's a very wide array of needs, perspectives, dreams and so on to try to channel into one union. Perhaps it can succeed over time, if given enough time for the union to integrate, but looking back at European history I wouldn't bet on it.
  • #7,703
  • Mar 23, 2010 7:44pm Mar 23, 2010 7:44pm
Quoting o990l6mh
As a European I have to disagree. Sweden is of course the most productive nation in Europe!

Other than that I agree with your thoughts.

Thank God Sweden voted no on joining the EMU some years back.

In my humble opinion the EU is now at a crossroads. It has been expanded with new member states at a stunningly fast pace and that has turned a relatively (notice I said relatively) homogeneous group of countries into a mixture representing the whole scale: from very rich nations with high tech driven economies like Sweden, Finland, Denmark, Germany,...
If my memory serves me right, I believe Norway and Sweden are two of the most productive workforces in the world aren't they?

I think the Euro could have worked beautifully, but if it were basically contained to the north. One would have to think a union consisting of Scandinavia, Germany, Benelux, and maybe Austria would be powerful indeed.

I also agree on not betting on harmony. Hell.....you Europeans can't even get along at an Inter/Milan, Ajax/Feyenoord, or even a Barca/Real Madrid match. lol
  • #7,704
  • Mar 23, 2010 7:45pm Mar 23, 2010 7:45pm
Quoting sebafx
(post 7679)

Engulfing bullish bar yesterday, and the high of the pinbar was broken today, rendering the setup invalid. Looks like it could break the s/r area soon... we'll see.

Quick question about FIBS and trend: If Investec breaks the s/r area, which converges with 61.8 fib, what does this mean trend-wise? I mean, price has no more fib levels to retrace to; would this mean we could then consider the long-term trend is up? Or would we have to wait to break the 2007 highs before thinking uptrend?
Actually, there are other fib levels. I think 76 or so is one as well....but you are correct - there are no common levels left. As a general rule - I consider a trend broken once 61.8 has been taken out. It's kind of like a "last confirmation" for me......

I would consider this a potential long if the s/r level holds as support.....
  • #7,705
  • Mar 23, 2010 9:53pm Mar 23, 2010 9:53pm
Evening traders,


The way I see it, the euro will break $1.30 then seek $1.17 then will find parity and lower.


And that's all I have to say about the euro.


forrestfx
Attached Image (click to enlarge)
Click to Enlarge Name: euro weekly.gif Size: 20 KB
  • #7,706
  • Mar 23, 2010 11:08pm Mar 23, 2010 11:08pm
hey golfer
agreed ! so many talks about 1.1 by the end of the year ! seems like everybody and ( golfer ) r building big shorts and this euro will drop lower and lower
meanwhile lets continue to play some ping pong . my account is enjoying it so much
cheers

Quoting golferfx
Evening traders,


The way I see it, the euro will break $1.30 then seek $1.17 then will find parity and lower.


And that's all I have to say about the euro.


forrestfx
  • #7,707
  • Mar 23, 2010 11:33pm Mar 23, 2010 11:33pm
well said !
i am not European but i have spent 30 + years in Europe in different countries . and i agree with u in all what u have said , even the first sentence about Sweden
samer

Quoting o990l6mh
As a European I have to disagree. Sweden is of course the most productive nation in Europe!

Other than that I agree with your thoughts.

Thank God Sweden voted no on joining the EMU some years back.

In my humble opinion the EU is now at a crossroads. It has been expanded with new member states at a stunningly fast pace and that has turned a relatively (notice I said relatively) homogeneous group of countries into a mixture representing the whole scale: from very rich nations with high tech driven economies like Sweden, Finland, Denmark, Germany,...
  • #7,708
  • Mar 24, 2010 1:49am Mar 24, 2010 1:49am
Quoting clockwork71
Cool......reading this via phone, will add you when I get home. Welcome!

Chris
What is your skype username as i would like to add you? Thanks
  • #7,709
  • Mar 24, 2010 7:04am Mar 24, 2010 7:04am
Here is a chart that I am watching with great interest:
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.png Size: 46 KB
  • #7,710
  • Mar 24, 2010 7:05am Mar 24, 2010 7:05am
Quoting golferfx
Evening traders,


The way I see it, the euro will break $1.30 then seek $1.17 then will find parity and lower.


And that's all I have to say about the euro.


forrestfx
For what it's worth, the ECB has stated in the past they would be comfortable with 1.25, so I would say that's certainly in the cards before it's all said and done.
  • #7,711
  • Mar 24, 2010 7:05am Mar 24, 2010 7:05am
Quoting samer960
hey golfer
agreed ! so many talks about 1.1 by the end of the year ! seems like everybody and ( golfer ) r building big shorts and this euro will drop lower and lower
meanwhile lets continue to play some ping pong . my account is enjoying it so much
cheers
Still going back and forth huh? lol

Congrats.
  • #7,712
  • Mar 24, 2010 7:06am Mar 24, 2010 7:06am
Quoting femfam
What is your skype username as i would like to add you? Thanks
clockwork1971
  • #7,713
  • Mar 24, 2010 3:29pm Mar 24, 2010 3:29pm
Quoting clockwork71
Here is a chart that I am watching with great interest:

Well, that was quick. It took about 30 minutes after I posted this. lol
  • #7,714
  • Edited 5:02pm Mar 24, 2010 3:49pm | Edited 5:02pm
at the moment I'm reading Pring on Price Patterns as suggested in this thread, and I think it's truly great. Having read other stuff by Pring, I thought he'd just be repeating the same things. Although he repeats some things, I'd say that even if you read other books by him and watch his videos, it still seems very much worth studying this particular book; it's helping me enormously.

I wanted to ask, what would be Steve Nison's books on Candlesticks that is best to read? I got The Candlestick Course, but I was wondering if I should read something else by him instead... Hope I'm not straying too far from the thread with this question

cheers
sebafx
  • #7,715
  • Mar 24, 2010 5:39pm Mar 24, 2010 5:39pm
Quoting sebafx
at the moment I'm reading Pring on Price Patterns as suggested in this thread, and I think it's truly great. Having read other stuff by Pring, I thought he'd just be repeating the same things. Although he repeats some things, I'd say that even if you read other books by him and watch his videos, it still seems very much worth studying this particular book; it's helping me enormously.

I wanted to ask, what would be Steve Nison's books on Candlesticks that is best to read? I got The Candlestick Course, but I was wondering if I should read something...
I'd suggest going for the original:

Nison S - Japanese Candlestick Charting Techniques [1991]
  • #7,716
  • Mar 24, 2010 6:30pm Mar 24, 2010 6:30pm
Quoting o990l6mh
I'd suggest going for the original:

Nison S - Japanese Candlestick Charting Techniques [1991]
I have to agree on this point here.
  • #7,717
  • Mar 24, 2010 6:50pm Mar 24, 2010 6:50pm
Quoting o990l6mh
I'd suggest going for the original:

Nison S - Japanese Candlestick Charting Techniques [1991]
Brillant thanks!!
  • #7,718
  • Mar 24, 2010 10:04pm Mar 24, 2010 10:04pm
Another interesting chart that I saw recently was a potential triangle forming on the weekly of the 10yr US Treasury Bond. Take a look:

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-03-24_10yrNote.png Size: 43 KB


For those of you who don't trade futures, you still might have an interest in keeping an eye on how this plays out. The price shown above moves inversely to the yield on the 10yr US Treasury bond which influences quite a few other interest rates you'll see out there -- The two obvious ones that come to mind are 1) The interest rate you'd be able to get on a home mortgage and 2) the interest rate that US Companies borrow money at.

Should this chart break to the south, that means higher rates that Uncle Sam pays on its debt, higher rates you'd refinance your mortgage at, and higher rates that US Companies borrow at (assuming the have or issue debt). If this chart heads higher, that means lower long-term interest rates. Higher rates aren't always a bad thing, but they do tend to crimp corporate profits and make housing less affordable (all else equal).

Anyway, I found it interesting and thought I would share...For those interested in trading this (but don't want to do futures) you can trade the stock IEF which tracks similar instruments...
  • #7,719
  • Mar 24, 2010 11:27pm Mar 24, 2010 11:27pm
Quoting InfinitySL
Another interesting chart that I saw recently was a potential triangle forming on the weekly of the 10yr US Treasury Bond....
Nice! Thanks for posting.
  • #7,720
  • Mar 24, 2010 11:52pm Mar 24, 2010 11:52pm
hi chris
are u waiting for a retest ?
thanks
samer

LOL u break it !! so fast .


Quoting clockwork71
Here is a chart that I am watching with great interest:
47 traders viewing now